08.24.2001
VIA 1H01 earnings rise 24.3% YoY

• Development: VIA booked 1H01 earnings of NT$2.67bn, for EPS of NT$5.75, up 24.3% YoY and achieving 45.5% of our 2001 forecast.

• Analysis: While the bottom-line figures are in line with our forecast, 2Q01 gross margin (35.8%) is a surprise, being higher than 1Q01 (35.7%). We have upgraded our EPS forecast by 2.6% to NT$10.17 from NT$9.91.

• Primasia View:. We expect VIA’s revenue to post monthly sequential growth for the remainder of the year. Upgrade to Outperform.